https://nypost.com/2021/03/30/biden-to-announce-up-to-4-trillion-infrastructure-plan-with-tax-hike/
Biden wants to raise taxes to pay for his spending. He says only those earning $400K will pay. It's a lie.
First problem: Only 1.8% of households make over $400K. There are 128 million households, so a higher marginal income tax rate will raise in the tens of billions. Not enough.
The vast majority of the taxes will be paid by raising the corporate tax rate, making the U.S. corporate tax the highest in the world. U.S. production will become less profitable and competitive. Middle-class U.S workers will see salary stagnation and unemployment.
Second problem: The 2021 stimulus was for $1.9 trillion.
Biden is already asking for a $3 trillion package to be spent next.
The 2020 federal deficit was $3.1 trillion. We're already looking at doubling the deficit in 2021.
The tax raise is a drop in the bucket. All the spending will be paid by borrowing - that is by inflation. Everyone who uses dollars will pay.
Buy ₿ #Bitcoin
Tell a lie enough times and people start to believe it - doesn't hurt having the mainstream media running propaganda in your favor either.
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